If you own an automated teller machine, it is important to know your ATM vaulting and placement options. Surcharges are a major part of making money with an ATM, but good placement and vaulting practices also boost profit.
Costs and benefits of armored ATM vaulting
Armored cash vaulting refers to paying an armored truck service to deliver cash from a financial institution to your ATM. They will vault, or load cash, into the machine as needed to ensure enough cash is available based on use.
This is a very secure way to handle vaulting. An armored truck means professionals guard the cash in transit. Business insurance costs may be lower this way, but it also adds the expense of paying a service to deliver and load cash into your machine.
Costs and benefits of self ATM vaulting
You can also choose to transport and refill your machines on your own. It is a good way to save on expenses, but it does mean you will carry large amounts of cash. It also means you will need to learn how to manage the vaulting process.
Choosing an ATM vaulting strategy based on volume
If you own several ATMs, you may want to pay for armored ATM vaulting. Loading cash into several machines per day can add up to more than $100,000 on hand while making the rounds. Stopping to load stacks of $20 bills all day could attract attention from thieves, though they think twice before trying to rob an armored truck service.
However, if you only have one machine or just a few machines, you can increase profit by self vaulting. Consider how often the machines require cash replenishment. Some machines only need one vaulting per week, while others are used often enough to need almost daily reloading.
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